Friday, March 23, 2012

DART CONTAINER CORPORATION OF MASON, MICHIGAN AND THE SOLO CUP COMPANY HEADQUARTERED IN LAKE FOREST, ILLINOIS, HAVE ANNOUNCED THAT THEY HAVE SIGNED A DEFINITIVE AGREEMENT UNDER WHICH DART CONTAINER WILL ACQUIRE SOLO IN A TRANSACTION VALUED AT $1 BILLION. BOTH COMPANIES ARE IN THE CONSUMER AND FOOD SERVICE DISPOSABLE PACKAGING BUSINESS. THE TRANSACTION, WHICH IS SUBJECT TO REGULATORY APPROVAL, IS EXPECTED TO CLOSE BY THE THIRD QUARTER OF THE YEAR.

SOLO CUP EMPLOYS JUST UNDER 200 AT THE THOMASTON PLANT NEAR THE AIRPORT. THE PLANT WAS ONCE A PART OF INNOWARE AND WHEN IT FIRST CAME TO UPSON COUNTY IT WAS PART OF A DUTCH FIRM, DE STAR.